1 J. Bennett & Son (Insurance Brokers) Ltd.
J Bennett & Son (Insurance Brokers) Ltd (We/us) act independently on behalf of our clients as an intermediary and not for a particular insurer. The Service that we offer is advice on, and the arrangement of, general insurance.
2. Product Selection.
We normally select from a range of insurers, however, although we are not contractually obliged to do so, we normally arrange insurance for Hot Air Balloons through our scheme with MSF Pritchard Syndicate 318 @ Lloyds. We will always explain our choice of insurer and whenever we use a specific scheme with a dedicated underwriter, we will advise you.
3. Customer Duty to Give Information.
It is your responsibility to provide complete and accurate information at all times. Please note that if you fail to disclose any material information to your insurers this could invalidate your insurance cover and claims may not be paid. If you are in any doubt as to whether information is material you should disclose it.
4. Confidentiality.
All personal information about you will be treated as private and confidential and will only be used in accordance with the Data Protection Act 1998. We may from time to time provide you with information about additional products and services that we feel may be of benefit to you. You have the right to see any personal information about you that we hold in our records.
5. What will you have to pay us for our services?
We normally receive commission from the insurer we select, which is usually a percentage of the premium, and rates are variable. In addition we may also receive profit commission and or bonuses from insurers, based on account performance. We will disclose details of any amounts we receive in connection with arranging insurance for you on request. In addition to, or instead of, any insurer commission we may charge a fee which will always be clearly shown, and agreed prior to cover being placed. We will also charge the greater of any commission reclaimed or £25.00 for mid term adjustments and cancellations.
6. Payment.
Payment is due at the time cover is arranged and may be by cash, cheque, debit card, credit card (subject to a 2% fee) or BACS. We may also be able to arrange instalment payment through the insurer or a third party premium finance provider. Client money is held in a non-statutory trust bank account for your protection pending settlement of premiums to insurers. Any interest generated on this account will be retained by us. If you are unhappy with this arrangement, please contact us. We are the agent of insurers for the purpose of collection of premiums and bank money in line with their instructions. In arranging your insurance we may employ the services of other intermediaries who are regulated by the FSA and your premium may be passed to these intermediaries for payment to insurers.
7. Credit Checking.
To assist in evaluation of clients many insurers conduct credit checks, and we may also do this, because a good credit rating can reduce your premium. By dealing with us you agree to us carrying out these checks from time to time.
8. Limitation of Liability
Our liability for any losses suffered by you as arising directly from any negligent performance of our services shall be limited to £5,000,000 any one claim. We will not be liable to you for any pure economic loss, loss of profit or loss of business, whether direct or indirect or consequential, which arise out of our services or this agreement.
9. Who regulates us?
We are authorised and regulated by the Financial Services Authority. Our FSA registration number is 305756. You can check this on the FSA Register, ( www.fsa.gov.uk/register ) or by contacting the FSA on 0845 606 1234. Our permitted business is advising upon, arranging, transacting and administering non-investment insurance contracts.
10. What to do if you have a complaint.
If you wish to register a complaint, please contact us by writing to Robert Newton ACII, J Bennett & Son (Insurance Brokers) Ltd, The White House, 21 High Street, High Wycombe HP11 2UX, by email to rnewton@jbennett.co.uk, by fax to 01494 465734 or by telephone to 01494 450450. If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
11. Are we covered by the Financial Services Compensation Scheme (FSCS)?
We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Insurance advising and arranging is covered for 100% of the first £2,000 and 90% of the remainder of the claim, without any upper limit. For compulsory classes of insurance, Insurance advising and arranging is covered for 100% per cent of the claim without any upper limit. Further information is available at www.fscs.org.uk.
12. The Law.
English Law is applicable.
13. Termination.
Either party may terminate the agreement for J Bennett & Son (Insurance Brokers) Ltd to act subject to 14 days written notice, or non renewal of a policy. Any post termination work we are asked to undertake will be charged at £240.00 per hour or part thereof.